"United Nations Convention On The Assignment Of Receivables In International Trade" Evaluation And Research Reference

With the increasingly competition in the international trade, the world market gradually comes into the buyer's market from the seller's market. For a long time, the seller parties can't take back or can't take back their receivables on time, which results in greater difficulties in funds-financing. At the same time, the seller parties will therefore suffer from greater risks. In the international trade, receivables financing is a better way to solve theses problems, which can solve the conflicts between the receivables and the needs of funds. But the premise of receivables financing is to assign the receivables, which is a very important legal issue in international trade. It is not only the legal foundation for the international factoring, but also the premise of asset-backed securitization. However, in different legal systems, from the contents to the choices of law, the laws on the assignment of receivables are characteristic of uncertainty, which become the legal obstacles to efficient commercial practices. In 1995, the United Nations Commission on International Trade Law (UNCUTRAL) undertook the work in the field of assignment of receivables in international trade. On July 5, 2001, UNCUTRAL approved the draft convention on the assignment of receivables in international trade. And on December 12, 2001, the Convention was adopted by the United Nations General Assembly and is now open for signature and ratification by countries. The paper studies the main legal problems that involved in the convention and the related laws and practice on the assignment of receivables in China.The paper is composed of three chapters. In Chapter One, the paper firstly summarizes the assignment of receivables in international trade; Secondly, the paper tells us the characters of the assignment of receivables and the legal systems of the different countries. In Chapter Two, the paper illustrates the main legal problems involved in the convention, including the background and working process that UNCITRAL drafted the Convention. Besides, the paper studies the scope of application, effectiveness of assignment of receivables, relationship between the assignor and the assignee, protection of debtor, effects of the assignment as against third parties-priority problems and conflict-of-laws rules in the assignment of receivables in international trade, by comparing with The Convention on International Factoring. At the same time, comparing with the "Principles for International Commercial Contracts" (2004), the paper studies the defects of the UNCITRAL, such as the transfer notice.The paper also analyses the status of the convention. In Chapter Three, the paper analyses the laws and practices in the field of assignment of receivables in China.